BAKU, Azerbaijan, October 17. Hungary’s MOL Group has strengthened its international portfolio through a new strategic partnership with Turkish Petroleum Corporation, formalized by the signing of a Memorandum of Understanding (MoU), Trend reports via the MOL Group,TurkicWorld reports.
This agreement marks a significant step in their long-standing collaboration, aligning with MOL's SHAPE TOMORROW strategy, which focuses on expanding the company’s footprint in hydrocarbon exploration and production.
Under the terms of the MoU, both companies will work closely to maintain a daily production target of at least 90,000 barrels of oil equivalent per day (kboepd) over the next five years. MOL’s Exploration and Production division is committed to leveraging this partnership to reinforce its international presence and operational resilience.
The partnership underscores MOL Group’s commitment to establishing strategic alliances that contribute to the energy security and competitiveness of the Central and Eastern European region.
